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Art. 17.
Notes 40
Annuity Notes
Plan
1 Creation
[9] continued
a penny allowed by Government on account —
a fee precisely the same in amount, absolute
as well as relative, as the other — would not
have the same operate in the same way with altogether
equal effect in the same way, because it
would not howsoever connected with the labour
it would not present itself at the same — time.
Quantum — difficulty
of adjusting it
As to the pr quantum of the fee, it seems difficult
to find any precise sum, sup with such
reasons in support of it, as shall be seen to apply
to that sum to the exclusion of every other.
The danger on the one hand is the checking and
diminishing the issue: the danger on the other
hand is — that of not affording the assistance that
might be afforded, to the circulation. The result
would be an undesirable one, if, while in one
part of the country the issue was going on
with rapidity, in another part of the country
a man possessed of a note of this sort foun
was to find a difficulty in getting it off his
hands.
Use of an note
fee, as an end
to the circulation
Possibly, a fee rising so high as sixpence
might in this view be preferable upon the whole
to so small a fee as a penny. The consequence
might then be that a set of middlemen
might spring up (Bankers for example)
who might fund their account in watching the
state of the market all over the country for the purpose
of buying this paper at circulation price in a district where the circulation